Nissan profit falls on foreign exchange losses, onetime costs gas examples matter

Still, operating profit in North America, Nissan’s biggest sales center, declined 15 percent to 100.4 billion yen ($945.2 million) in the fiscal fourth quarter.That contrasts with a 30 percent drop in North American operating profit for the full fiscal year.

But spiff outlays dropped 4.3 percent to $3,837 in the first four months of 2018, even as the industry average climbed 5.8 percent to $3,721 in the period. And in April, Nissan’s incentives tumbled 21 percent to $3,100 per vehicle, below the industry average.

For starters, a rush of new products should help Nissan suppress incentives. New offerings arriving this year include the redesigned Leaf EV, the next-generation Altima sedan, the Kicks subcompact crossover and the Infiniti QX50 crossover. An updated Sentra is also expected soon.

Chief Performance Officer Jose Munoz said the new products will bolster Nissan’s business in the latter half of the current fiscal year and help the company shift its lineup more toward the white-hot light-truck segment. Light trucks accounted for 56 percent of Nissan and Infiniti sales through April. But industrywide, they accounted for 68 percent of overall demand.

Ghosn set the difficult and controversial mission of raising Nissan and Infiniti’s combined U.S. market share to 10 percent by March 31 of 2017 — a goal Nissan achieved by a whisker despite criticism and warnings from competitors, dealers and outsiders around the industry.

Through April, Nissan’s share had dropped to 9.2 percent, from 9.9 percent a year earlier. Nissan North America’s sales declined 6.5 percent to 503,767 vehicles in the first four months, even as the overall U.S. industry managed to eke out a meager 0.2 percent increase.

In April, U.S. sales slumping 28 percent to 87,764 cars and light trucks. The company simultaneously pulled back from its normal volume of fleet deliveries and began easing pressure on dealer sales incentive programs, all while overall U.S. light-vehicle market softens.

In Japan, Nissan has caught upward momentum with such next-generation gadgetry as its ProPilot autonomous driving system, its e-Pedal accelerator-cum-brake application and its e-Power range-extender hybrid — not to mention the Leaf electric vehicle.

Still, operating profit in North America, Nissan’s biggest sales center, declined 15 percent to 100.4 billion yen ($945.2 million) in the fiscal fourth quarter.That contrasts with a 30 percent drop in North American operating profit for the full fiscal year.

But spiff outlays dropped 4.3 percent to $3,837 in the first four months of 2018, even as the industry average climbed 5.8 percent to $3,721 in the period. And in April, Nissan’s incentives tumbled 21 percent to $3,100 per vehicle, below the industry average.

For starters, a rush of new products should help Nissan suppress incentives. New offerings arriving this year include the redesigned Leaf EV, the next-generation Altima sedan, the Kicks subcompact crossover and the Infiniti QX50 crossover. An updated Sentra is also expected soon.

Chief Performance Officer Jose Munoz said the new products will bolster Nissan’s business in the latter half of the current fiscal year and help the company shift its lineup more toward the white-hot light-truck segment. Light trucks accounted for 56 percent of Nissan and Infiniti sales through April. But industrywide, they accounted for 68 percent of overall demand.

Ghosn set the difficult and controversial mission of raising Nissan and Infiniti’s combined U.S. market share to 10 percent by March 31 of 2017 — a goal Nissan achieved by a whisker despite criticism and warnings from competitors, dealers and outsiders around the industry.

Through April, Nissan’s share had dropped to 9.2 percent, from 9.9 percent a year earlier. Nissan North America’s sales declined 6.5 percent to 503,767 vehicles in the first four months, even as the overall U.S. industry managed to eke out a meager 0.2 percent increase.

In April, U.S. sales slumping 28 percent to 87,764 cars and light trucks. The company simultaneously pulled back from its normal volume of fleet deliveries and began easing pressure on dealer sales incentive programs, all while overall U.S. light-vehicle market softens.

In Japan, Nissan has caught upward momentum with such next-generation gadgetry as its ProPilot autonomous driving system, its e-Pedal accelerator-cum-brake application and its e-Power range-extender hybrid — not to mention the Leaf electric vehicle.